Quicken Loans Inc. Employee Reviews

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If you don’t kiss up then you’re not in.
Underwriter (Current Employee) –  Detroit, MIOctober 16, 2018
I didn’t kiss up and I got blackballed. I got overlook for the a lot of things. Especially promotions. The culture the company was founded on seemed to have gotten lost. The company is not the same as 2012 when I started.
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5.0
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Great place to work!
Technical Data Steward (Former Employee) –  Detroit, MIOctober 16, 2018
Lots of new technology all the time with amazing people! Yes - it is really that good! Everyone is helpful, nice and smart! It is faster paced than anywhere else I have ever worked.
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5.0
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Great culture and company!
Mortgage Banker (Former Employee) –  Detroit, MIOctober 16, 2018
Quicken Loans was a an amazing company to work for! Great culture, people and environment. My time was brief due to family issues but I enjoyed it very much and was sad to have to leave. I do plan on returning once my family is settled.
Pros
Great people, fun environment, lots of opportunity!
Cons
Lots of overtime needed to hit goals.
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1.0
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The Money Isn't There While You Try To Build Your Business Up
Power Banker (Former Employee) –  Detroit, MIOctober 15, 2018
While you cannot fault a mortgage company for selling mortgages, you are expected to sell a mortgage to everyone with a qualifying FICO score. This is driven home again and again in the ever-changing compensation plans and expectations of working 70-80 hours a week. You have to exceed your monthly goal or you will not make any money-period. Your status as a valued employee only comes if you exceed your goals. Then you Are something.
Some truly great people work at Quicken Loans-the only problem is that they are few and far between once you hit the banking floor. I heard a director on the floor say that he picked and chose who he helped-making it very clear that there was a high level of favoritism with unwritten rules navigating it. I would say that everyone deserves equal opportunity to receive help, as helping each banker in turn helps all clients, which in turn strengthens the entire company. Clearly, this company is fine with the extraordinarily high turnover rate and sees it as a by product of doing business. I do not recommend this company to anyone for any position.
Pros
Benefits start day one
Cons
Work/life balance, workplace culture
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5.0
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Remote worker
Deed Specialist & Title Clearance Liaison (Former Employee) –  Detroit, MIOctober 14, 2018
Quicken Loans is a wonderful company to work for. They are very flexible and attentive to your voice. I loved working for QL. I was a remote worker for five and a half years. Within the last year, many change happened in the company and volume was lower however the staff at QL are all wonderful people and demonstrate the culture daily.
Pros
Remote worker - worked from home
Cons
None:)
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4.0
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Family of employee
Mortgage Loan Officer (Current Employee) –  DetroitOctober 13, 2018
Quicken is a great company, great benefits, good salary, everything that a kid out of college wants. But they put ‘kids’ without a degree or formal training in leadership positions who have no leadership skills or now how to run a team with a positive outlook. They don’t take illnesses lightly, they are condescending and treat you like you would be in a sweat shop. Working from 7:30 am until 9:30 pm doesn’t make a person more productive but it’s counterproductive because the employee is exhausted. No days off for 15 days is unacceptable. Your leadership needs sensitivity training or hire people with degrees in management. They are discouraging their teams to succeed. No one wins!
Pros
Benefits
Cons
30 minute lunches during 14 hour days
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1.0
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Waste of Time
Mortgage Loan Originator (Former Employee) –  Detroit, MIOctober 8, 2018
This company has one of the highest turnover rate, if not the highest turnover rate in the country and for a very good reason. No work life balance no matter how long you have been with the company. Extremely cut throat with no job security what so ever. The company makes multiple compensation changes a year which puts less into your pockets and make it harder to get promoted every single time. If you have family that you want to see, this is not the place for you. Stress is an understatement witht this company. Less than 20% of bankers make it out of their first year. Worse part is that with working 70+ hours a week, your job still follows you home. They tell you what you want to hear but never follow through. The company cares about the company. PERIOD
Pros
parking downtown on weekends, health benefits
Cons
everthing else
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4.0
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It was a good place to work
Mortgage Banker (Former Employee) –  Detroit, MIOctober 8, 2018
This in not a 9-5 job. I often worked 60+ hours a week and would even take client calls from home off the clock to help clients. About 2/3rds of the directors I worked with helped me to develop my business. I was moved to different teams/directors every few months.
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5.0
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Productive and fun place to work
Senior Closing Care Specialist (Former Employee) –  Scottsdale, AZOctober 5, 2018
My time spent working for QL was great. The culture of the company allowed me to thrive by giving me the tools, training and guidance to become very good at my job. The company was huge on team building events and would go so far as to shut down entire departments, or even the company, just to do something awesome for the team members. The insurance and benefits were fantastic and affordable. The team I worked on did not micro manage your breaks. You could actually take as many small breaks as you needed to throughout the day just make sure your metrics were met and you didn't have a problem. Team Leaders would coach you but would also listen you and work with you to get to the best result for you.
Pros
Everything
Cons
No work/life balance due to long work hours
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3.0
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Typical Sales Job
SENIOR MORTGAGE BANKER (Current Employee) –  Phoenix, AZOctober 5, 2018
Disconnect between sales team and upper management. Lack of transparency and honesty. No structure or clear path for those wanting to go into leadership.
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3.0
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Great at first then they flipped the script
ACCOUNT SPECIALIST (Former Employee) –  Detroit, MIOctober 4, 2018
At first working for quicken and rock you would be allowed to work as much overtime as you would have liked as well as having uncapped commission however after a few months of working there they had changed their commission structure completely and took away overtime and reduced hours.
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4.0
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Productive place that is constantly changing
Team Leader (Current Employee) –  Detroit, MIOctober 4, 2018
It is a place that is working on balancing the use of technology and actual people. As many companies are finding themselves in the same postion;QL will be at the forefront of figuring it all out. It's a great place to work for vibrant, young people!
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5.0
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Productive and enjoyable workplace with great people
Invoice Processing Intern (Former Employee) –  Detroit, MIOctober 2, 2018
A typical day at work was relaxed but filled with productivity.

I learned a lot about how a major company operates and what it takes to have a full time job.

Management was awesome and made the job very enjoyable.

The workplace culture could not have been better at Quicken Loans
Pros
Lots of perks and benefits along with working in a great major city
Cons
N/a
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3.0
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Active workplace with lots of help on hand
Power Banker (Former Employee) –  Phoenix, AZOctober 1, 2018
I enjoyed my time at Quicken Loans. The days spent there kept you pretty busy almost to the point where it was a hassle at times to have a life outside of work but if you're someone who doesn't get out much anyways, this could be a good fit. You spend it usually on the phone talking to clients and helping them get qualified for a loan. It can get repetitive at times.
Pros
Company pays for training and licensure
Cons
Short lunches, high pressure, micro-managing, no work/life balance
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1.0
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Never be a mortgage banker at this company
Mortgage Loan Officer (Former Employee) –  Detroit, MIOctober 1, 2018
It all starts with the recruitment process, they tell you a bunch of lies for you to commit to this job. Stuff like you will only work one saturday in a month.

That is never the case, everything is nice until you hit the banking floor. Your base salary gets reduced they never tell you what you will actually make. They will show you people who are hitting top tier to entice you but the truth is you only make money here if you exceed goal not even hit goal you should exceed it otherwise it's not worth the amount of stress in your life.

To give you an idea on how many people hit goal I saw approximately less than 20% on average hitting their goals. You don't make even close to what you should for the amount of hours you put in working here, basically you sacrifice having a life outside of the company walls. 65-70hrs was the norm when I started working here. The pressure that you get from the management just adds to the problem. I feel like if they were more honest about what the job entails and how much you make instead of telling stories about all the successful people who made money when the times were good will help with the high turnover they have.

I don't know about the other areas of the company but if your job at this company is commission based be very vary. I will leave you with this, if you are thinking about starting a job as a mortgage banker in this company be very inquisitive about their comp plan as a banker not as an associate or trainee. They change your compensation after you become a banker. No matter what they tell you at the start of your career
  more... as a banker you will be putting in upwards of 65hrs a week. Make sure you have some money saved up  less
Pros
they have huge company meetings when you first start with them and they give you some free stuff
Cons
everything about the job
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4.0
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great place to work if u love customer service
Customer Service Associate (Former Employee) –  Detroit, MISeptember 27, 2018
working with this company as a summer job was interesting an fun i was able to meet all kinds of people from all walks of life. I learn alot about quicken loans
Pros
Pay
Cons
breaks
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4.0
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A great culture company
BI (Former Employee) –  Detroit, MISeptember 27, 2018
I learned a lot from my team. Everyone was nice and easy to work with. The working environment was great. Free snacks. Commuting to Detroit downtown usually cost me 2 hours per day.
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4.0
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3 year Mortgage Banker for QL
Senior Mortgage Banker (Former Employee) –  Phoenix, AZSeptember 26, 2018
I worked at Quicken Loans immediately out of college and had no mortgage experience beforehand. I wanted to gain professional sales experience while being compensated fairly for my work. QL has a lot of resources available to it's employees and will definitely help if you are struggling in a certain area. It is a solid company to work for that truly cares about its culture.

The thing that bothered me the most was the work/life balance there. If you read other reviews online I'd say that this is the most common complaint. It is very frequent that you're working more than 12 hours in a day during your first couple of years with the company. If you don't view the opportunity as a long term thing then this side of the business will get old very quickly.

Another thing that is somewhat bothering is the ability to move up within leadership or other opportunities outside of mortgage banking. You can progress as a mortgage banker (i.e. Senior, Exec, President's Club) but you're doing the same exact job day in and day out just getting paid more in terms of commissions.

I felt like QL did have a strong leadership core that cared about the direction of the company but it's pretty cut-throat at the same time. They take client service extremely serious there so it's very important that you are always putting the client's needs first (pretty obvious though).

The office setting is pretty neat I will say, they invest a lot into the office spaces that we used. The workforce is relatively young so it can be a somewhat higher intensity setting at times.
Pros
compensation, workplace culture
Cons
work/life balance, other opportunities within organization
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5.0
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Wonderful Environment
Tour of Duty Associate (Current Employee) –  Detroit, MISeptember 26, 2018
The culture is what fascinates me most. Everyone are on the same page and looking to achieve the same thing. I look forward to coming to work everyday and enjoy the people I work with.
Pros
Free Snacks and Coffee, Discounts, Vibrant work environment.
Cons
That I am only an intern and not a full-time employee.
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5.0
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Great Company Culture
Software Developer Intern (Former Employee) –  Detroit, MISeptember 25, 2018
Quicken Loans has a wonderful company culture. Quicken Loans really believes in their ISMs, and takes them to heart. I appreciated the opportunities to grow, learn, and expand my skillset.

I had a great mentor that helped my experience at Quicken Loans to be a success.

I gained much experience in C# .NET as well as AWS services at Quicken Loans, and connected and networked with many wonderful people.
Pros
Culture, Freedom to be creative
Cons
None
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Overall rating

3.9
Based on 1,020 reviews
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2.9Work/Life Balance
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Diversity score

84out of 100

The Comparably Diversity Score tracks how positively diverse employees rate their experience at Quicken Loans Inc..

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